“Neutral” to “Overbought” conditions within context of Intermediate Cycle negative would be suggestive of Minor Cycle high.

Ultimately, extent to which September/October highs (1474.51—S&P 500) might be seriously challenged could determine whether or not current strength is merely brief upside feint in Intermediate Cycle negative, or something more positive.

How current price action plays out relative to September highs will determine status of Major Cycle uptrend in effect since March 2009.

Index

Daily / Weekly / Monthly Stops

Weekly

Monthly

12/3

12/4

12/5

12/6

12/7

12/7

12/31

S&P 500 Index

SELL1375.86

SELL1380.87

SELL1383.22

SELL1389.02

SELL1395.42

BUY1453.21

SELL1293.26

Dow Jones Industrials

SELL12717.97

SELL12751.24

SELL12764.24

SELL12812.68

SELL12858.38

BUY13502.38

SELL12313.37

NASDAQ Composite

SELL2897.91

SELL2912.72

SELL2920.96

SELL2939.12

SELL2955.11

BUY3108.58

SELL2772.87

Value Line Index

SELL2952.92

SELL2967.85

SELL2976.35

SELL2993.76

SELL3011.31

BUY3099.61

SELL2758.13

Note: Stop levels, a function of the extant trend, are based on the trailing moving average price channels for the Highs or the Lows of an index. Whether or not a specific index is suggesting a “Buy” or Sell” is determined by whether or not index prices are above or below the current channel Stop levels. Stop levels should only be used as an entry or exit guide and in conjunction with other market entry and exit strategies.